Zimbabwe President Emmerson Mnangagwa has reassured development partners and creditors that his government is committed to the implementation of key reforms critical to resolving the country’s nearly $8.3 billion of debts and arrears.  He was speaking during the high-level debt resolution forum held Monday in the capital Harare, that was also addressed by the President of the...

Africa contributes the least - less than 3% -- to global warming, yet the continent is the most vulnerable to climate risks. To build resilience against climate change, the countries have outlined tangible ambitions for green growth, including plans to increase climate investment. Amid dwindling climate finance flows to Africa, the African Development Bank has committed to helping to de-risk...

Recently, the 4,500 white large landowners forcibly evicted from their land under former President Robert Mugabe's land reform program turned down a compensation proposal made by the current government. The proposal offered to compensate them with treasury bonds over 10 years. The African Development Bank (AfDB) announced, Monday, it would help Zimbabwe compensate white farmers who were evicted...

In a global context marked by multiple global crises since the emergence of Covid-19 in 2020, Africa has shown resilience. Amid headwinds, the continent continues to show positive economic growth. According to the African Development Bank's Africa's Macroeconomic Performance and Outlook, the continent's real gross domestic product (GDP) could expand by an average of 4% in 2023-2024. This is above...

The South African banking group which has branches in 10 African countries plans to offer advisory services to Chinese companies interested in investing in the continent, among other things. South African bank Absa Group will set up a representative office in Beijing to serve Chinese companies looking to expand their business to African markets, the South China Morning Post reported on Monday,...

OneWeb has finalized the deployment of its low-earth-orbit satellite constellation.  To ensure the distribution of its services in Africa, it is building partnerships with local actors.  Satellite operator OneWeb announced on Monday, May 15, a distribution agreement with integrated communications service provider iSAT Africa Ltd to provide broadband connectivity services in Central,...

The Kenyan health sector faces many challenges. To address some of those challenges and make the sector more inclusive, the government seeks cooperation with international partners.   South Korea will offer its vaccine and drug manufacturing expertise to strengthen Kenya's health sector. The information was disclosed by the Kenyan Ministry of Health in a release dated Thursday, May 11,...

The startup, which claims to have provided $1 billion in credit to about 3 million unbanked customers, is set to expand into South Africa and enter the electric motorcycle financing segment.  According to a report by Reuters on Monday, May 15, Kenyan financing platform M-Kopa successfully concluded a funding round, raising a total of $255 million in equity and loans. The funds...

The African Development Bank is set to roll out the first green finance facilities in two public financial institutions in Benin and Côte d’Ivoire as part of its ground-breaking African Green Bank initiative. The host institutions are La Caisse des Dépôts et Consignations du Bénin (CDC Benin) and the Ivorian National Investment Bank (BNI). As Africa’s premier development finance...